The rise of private label
“Brands across all sectors are finding the Irish retail landscape more challenging. Traditional retailers have responded to a more competitive marketplace by expanding and improving their own-label lines – and brands and manufacturers are feeling the impact” – David Berry, Director of Kantar Worldpanel IrelandRead more
6 Most Effective Leadership Styles
There are many different styles of leadership in business today. A Study by Daniel Goleman identified 6 styles of leadership that are the most effective. Each of the styles has their positives and negatives and they also have a different effect on people’s emotions and However he puts forward the idea that a good leader uses a combination of these leadership styles.Read more
Emotional intelligence can be defined, simplistically, as being aware of one’s own emotional reactions to situations and having the ability to recognise and understand those emotions in order to react more effectively in any given situation.Less simplistically, according to the 2009 Dictionary of Psychology, emotional intelligence (EI) is the ability to monitor one’s own and other people’s emotions, to discriminate between different emotions and label them appropriately and to use emotional information to guide thinking and behaviour.
Nine different types of intelligence
In 1983 Howard Gardener who was an American developmental psychologist, published a book called Frames of Mind: The Theory of Multiple Intelligences. In this book he argues that there is not one perfect way of measuring intelligence and that our brains are wired with a whole range of cognitive abilities. Gardener points out that a person can, for example, be bad at math but excel at and be top of another field such as music. He then presents the following 9 types of intelligence.Read more
Online Shopping- Shift from desktop to Mobile
As a result of the recession, consumer behaviours have changes and have led to a more value-conscious consumer. This means that retailers will need work even harder to attract consumers. A survey carried out by PWC reveals that even though the economy has continued to pick up less than a third of consumers surveyed said that they expect to spend more in 2018 than 2017.
Fresh Food – Quality Over Price
A survey of 23,000 European shoppers in four countries, carried out by McKinsey, reveals grocers can boost sales by up to 10% in fresh fruit and vegetable departments. According to the survey, European consumers are inclined to judge the quality of the fresh-produce of a particular retailer, based on the qualities of their bananas and apples. When it comes to vegetables there is more of a variety in preference. British shoppers pay closer attention to the quality of a retailer’s potatoes, whilst the Germans favor tomatoes. The French tend to look at courgettes and the Swiss look at the lettuce.Read more
CEO of Openet gives his views on recruiting leaders: Business plus article in association with RFC Executive
Chartered accountant Niall Norton has been CEO of Openet since 2006.